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Rational decision makingis a multi-stepprocessformakingchoices between alternatives. Theprocessofrational decision-makingfavors logic, objectivity, and analysis over subjectivity and insight. The rational decision-making process involves careful, methodical steps like identifying the problem, identifying the alternatives, evaluating them and them selecting the best alternative. It aims at coming at the most optimal solution to the problem.
How does a cost-benefit analysis contribute to selecting the best solution?
In a democratic decision-making style, the decision is based on inputs from _____
________ decision theory is concerned with how people actually make decision.
What do we call a course of action purposely chosen from a set of options to achieve organizational or managerial objectives or goals?
What is the first step in the decision-making process?
Which technique of decision-making involves generating multiple ideas in a group setting without criticism?
How does prioritizing criteria contribute to selecting the best solution?
Strategic decisions are _______
Which of the following is not a constraint(s) under Bounded rationality that lead to a satisficing decision?
Which of the following decision making technique involves the use of a ‘yes’ or ‘no’ solution to arrive at a decision?
